Business Directories

Iran to start exporting jet fuel

Tehran, September 7, 2011

Iran has begun exporting jet fuel, state radio reported on Wednesday in the latest bullish declaration about the country's ability to refine fuel in the face of international sanctions.

"Iran has signed its first contract for exporting jet fuel with a foreign company," said Jalil Salari, managing director of the National Iranian Oil Products Distribution Company (NIOPDC).

Salari did not say who the buyer was and how much would be exported. The Oil Ministry could not immediately comment on the report.

Iran, the world's fourth-largest oil producer, has been slapped by international sanctions over its nuclear activities which the West suspects are aimed at making atomic weapons, a charge Tehran denies.

US and European Union sanctions, tightened a year ago, scared many suppliers away from supplying Iran with refined oil products, but Iran said an emergency plan to increase refinery capacity meant it rapidly became self-sufficient in gasoline, something traders view with scepticism. – Reuters